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Defendants plead not guilty in UN oil-for-food case

[JURIST] Following up on a story reported last week in JURIST's Paper Chase, two Houston oil executives pleaded not guilty Monday in a Manhattan federal court to charges of defrauding the UN Oil-For-Food program [JURIST news archive] and paying millions of dollars in kickbacks to Saddam Hussein's Iraqi government. David B. Chalmers Jr., owner of Houston-based Bayoil (USA) Inc., and oil trader Ludmil Dionissiev, a Bulgarian citizen and permanent US resident were arrested last Thursday and charged with cheating the UN out of $100 million that was supposed to go to humanitarian aid. The men were allowed to remain free on $500,000 bail each. If convicted of the charges, Chalmers and Dionissiev could face up to 62 years in prison and a fine of $1 million. AP has more.

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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